Page 24 - atoday
P. 24
A24
BUSINESSWednesday 27 January 2016
Stock rise, driven by a turn higher in crude oil prices
MARLEY JAY 16,167.23. The Standard & Trader Mark Puetzer works on the floor of the New York Stock added $2.82, or 18.3 per-
AP Markets Writer Poor’s 500 index rose 26.55 Exchange, Tuesday, Jan. 26, 2016. Higher oil prices and some cent, to $18.19 and Hun-
NEW YORK (AP) — U.S. points, or 1.4 percent, to positive earnings news from U.S. companies are helping to send tington lost 75 cents, or 8.5
stocks jumped Tuesday as 1,903.63. The Nasdaq com- the stock market higher. percent, to $8.50.
the price of oil made an- posite index added 49.18 Sprint, the fourth-largest
other abrupt reversal, this points, or 1.1 percent, to (AP Photo/Richard Drew) wireless provider in the U.S.,
time rising almost 4 percent 4,567.67. posted a smaller loss in
after falling sharply the day Energy stocks gained Procter & Gamble reported lysts expected. It rose $7.21, its third quarter and said
before. ground as the price of U.S. a larger profit in the fourth or 5.2 percent, to $144.78. its aggressive promotions
Energy stocks climbed crude rose $1.10, or 3.7 quarter as it raised prices The Dow had its best day lured in more users. The
along with the price of oil, percent, to close at $31.45 and cut costs. The maker since early December. company raised its outlook
and Chevron and Exxon a barrel in New York. It fell of Pantene shampoo, Crest Many of the companies for the year.
Mobil made major gains. almost 6 percent Monday. toothpaste and Charmin making the biggest gains, Sprint’s stock rose 47 cents,
Strong fourth-quarter results Brent crude, a benchmark toilet paper added $1.96, including Exxon, Chevron or 18.7 percent, to $2.99.
from beleaguered wireless for international oils, rose or 2.6 percent, to $78.81. and 3M, are Dow compo- The stock, which hit an all-
provider Sprint gave tele- $1.30, or 4.3 percent, to Coach reported a greater nents. The Nasdaq made time low last Wednesday,
com stocks a boost. Quar- $31.80 a barrel in London. profit than analysts had ex- smaller gains because tech has been on a wild ride
terly earnings also sent sev- Despite the rebound, U.S. pected, and its stock rose stocks didn’t rise as much the last few days, jumping
eral stocks higher, includ- crude is down almost 18 $2.98, or 9.8 percent, to as the broader market. almost 15 percent Friday
ing Post-it Notes maker 3M, percent this month. $33.33. Even with that big Huntington Bancshares and then falling 12 percent
Procter & Gamble, which Exxon Mobil picked up gain, however, it’s down agreed to buy competitor Monday, when Sprint said
makes Crest toothpaste, $2.72, or 3.7 percent, $76.70 10 percent over the last 12 FirstMerit Corp for $3.4 bil- it had cut about 2,500 jobs
and luxury handbag maker and Chevron rose $3.23, or months. lion. The deal would create since last fall, or 8 percent
Coach. 4 percent, to $84.12. 3M, which makes industrial the largest bank in Ohio, of its staff. Other telecom
The Dow Jones industrial Quarterly earnings con- coatings and ceramics, re- and the companies would stocks also jumped Tues-
average jumped 282.01 tributed to many of the ported a greater profit and have about $100 billion in day. Verizon Communica-
points, or 1.8 percent, to biggest moves of the day. more revenue than ana- combined assets. FirstMerit tions gained $1.22, or 2.6
percent, to $48.25.
While the market made
broad gains and undid
most of Monday’s losses,
it’s still down substantially
this year and there are
signs investors have big
worries about the global
economy.
The yield on the 10-year
Treasury note slipped to 2
percent from 2.01 percent
and the yield on the two-
year Treasury note dipped
to 0.84 percent from 0.86
percent. q
Chase planning rollout of card-free ATMs
KEN SWEET during branch hours. the fleets of bank tellers at
AP Business Writer The first generation of these
NEW YORK (AP) — Soon, new ATMs will allow cus- each branch once need-
losing your ATM card won’t tomers to access the ma-
be the financial life-stop- chine by inputting a code ed to handle routine cus-
ping event it used to be. found on their Chase mo-
Just don’t also lose your bile app, Fusco said. Fu- tomer transactions. Fusco
phone. ture upgrades of machines
JPMorgan Chase custom- will allow customers to use said Chasenow does more
ers will soon be able to with- their cell phone’s near-field
draw cash or initiate other wireless communication transactions each month
transactions using their cell- feature to access their ac-
phone at Chase ATMs be- counts, using the technol- via ATMs than with tellers.
ing upgraded later this ogy that enables shopping
year. checkout features such as Tellers will still be in
The move will include new Apple Pay and Samsung
cash machines that don’t Pay. branches, however, to
require a card and up- Customers will still be able
grades to existing machines to use their ATM cards if help with specialized cus-
that will allow customers to they want to, Fusco said.
withdraw more money and The cell phone technology tomer transactions, Fusco
in different denominations, will just be an option.
said Chase spokesman Mi- Chase and other banks said. Chase is also mov-
chael Fusco. The withdraw- have been rolling out new
al limit will also be substan- and upgraded ATMs in a ing tellers from behind the
tially higher, up to $3,000 continuing effort to replace
counter to the branch floor
to help customers navigate
the new machines.
Other features being
rolled out with the new
machines eventually, the
company announced
Monday, will allow custom-
ers to cash checks, and
pay Chase credit card bills
and mortgages at the ATM.
Those features will arrive
within the next two years.q
